Fischer Financial Services Inc. Acquires Shares of 21,767 Netflix, Inc. $NFLX

Key Points

• Fischer Financial Services acquired 21,767 Netflix shares in the second quarter, valued at approximately $1.55 million. Netflix now represents 0.4% of the firm’s portfolio and is its 27th-largest holding.
• Institutional investors own 80.93% of Netflix, while insiders own 1.24%; however, insiders sold approximately $49.1 million of stock over the last quarter, including sizable sales by a director and the CEO.
• Netflix slightly exceeded quarterly EPS expectations, reporting $0.80 versus $0.79, while revenue rose 13.4% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $103.48, above the reported $80.14 share price.

Fischer Financial Services Inc. acquired a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,767 shares of the Internet television network's stock, valued at approximately $1,554,000. Netflix makes up 0.4% of Fischer Financial Services Inc.'s holdings, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Turning Point Benefit Group Inc. raised its position in Netflix by 13,400.0% during the fourth quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network's stock worth $25,000 after acquiring an additional 268 shares during the period. Imprint Wealth LLC acquired a new stake in shares of Netflix in the third quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $26,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Netflix during the fourth quarter worth about $26,000. Finally, Jessup Wealth Management Inc purchased a new stake in shares of Netflix during the fourth quarter worth about $27,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In related news, Director Bradford L. Smith sold 35,990 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total value of $2,789,944.80. Following the completion of the sale, the director owned 79,690 shares of the company's stock, valued at approximately $6,177,568.80. This trade represents a 31.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the transaction, the chief executive officer owned 120,931 shares in the company, valued at approximately $8,893,265.74. The trade was a 18.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 600,295 shares of company stock worth $49,056,671. 1.24% of the stock is owned by company insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $80.14 on Friday. The company's 50-day moving average price is $74.40 and its 200-day moving average price is $84.37. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The company has a market cap of $333.70 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.01 and a beta of 1.52. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $126.71.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. The company had revenue of $12.56 billion during the quarter, compared to analysts' expectations of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. Netflix's revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. On average, sell-side analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square rebuilt a major position. The investment firm’s purchase, despite previously taking a reported $400 million loss on Netflix, signals confidence in the company’s long-term growth, competitive position and leadership. The disclosure helped support a recent increase in NFLX shares. Netflix Moved, What Is Drawing Attention Now?
• Positive Sentiment: Analysts see advertising as a significant growth opportunity. Netflix is expanding its ad-supported business through live programming, new ad technology and additional tools for marketers. The company is targeting substantial future advertising revenue, which could diversify its sales base and support continued revenue expansion. NFLX's Ad Business Focus
• Positive Sentiment: Valuation has become more attractive after the selloff. Netflix trades at roughly 21 times forward earnings in the cited analysis, a level viewed as more reasonable than during prior periods of comparable declines. A CNBC contributor also recommended Netflix, reinforcing the bullish case among some investors. Netflix Trades at 21 Times Forward Earnings
• Neutral Sentiment: Co-founder Reed Hastings discussed Netflix’s performance-focused culture. Hastings said companies should operate as teams rather than families, making workforce reductions easier when employees do not meet expectations. The comments revisit Netflix’s 2001 layoffs but do not represent a new operating announcement. Reed Hastings Says Companies Aren’t Families
• Negative Sentiment: YouTube is reportedly trying to prevent creators from signing with Netflix. YouTube is offering creators millions of dollars and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could raise Netflix’s content-acquisition costs and make it harder to secure popular creator-led programming. YouTube Offers Creators Millions to Avoid Netflix Deals
• Negative Sentiment: Netflix faces a lawsuit from the band Demon Hunter. The group alleges that Netflix’s KPop Demon Hunters infringes its rights. The case creates legal and reputational risk, although the financial impact is currently unclear. Netflix Sued by Band Demon Hunter

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of research reports. CLSA assumed coverage on shares of Netflix in a research note on Monday, July 20th. They issued an "outperform" rating on the stock. Morgan Stanley reiterated an "overweight" rating and set a $90.00 price objective (down from $115.00) on shares of Netflix in a research note on Tuesday, July 14th. Phillip Securities upgraded Netflix from a "moderate buy" rating to a "strong-buy" rating in a research note on Sunday, July 19th. Wells Fargo & Company set a $80.00 target price on Netflix and gave the company an "equal weight" rating in a report on Friday, July 17th. Finally, Wedbush decreased their target price on Netflix from $118.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $103.48.

Netflix Company Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company's primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source